Fbr section 148
WebMar 26, 2024 · Although, FBR’s stated position continues to be that section 148 by dint of its being in Division II (instead of Division III) of Part V of Chapter X of the I.T.0, 2001, it … WebPakistan Business Council (PBC) in its proposals for budget 2024/2024 submitted to Federal Board of Revenue (FBR), said that Section 148 (1) of Income Tax Ordinance, 2001 covers advance tax on Imports and Section 153 covers advance tax on sale of goods and services. READ MORE: Proposed list of higher withholding tax rates for non-filers
Fbr section 148
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Web(a) (b) (c) Reduced rate under section 148 provided to Manufactures and commercial importers as specified in the Part-Il, First Schedule would remain available to eligible persons despite rescission of S.R.O.1125 of 2011 Provisions of section 235-B will remain available to steel-melters and composite units registered for the purposes of Sales Tax … WebThe FBR has launched verification of exemption certificates on national level based on discrepancies detected in the certificates issued by RTO Faisalabad. According to the FBR instructions, the FBR has detected misuse of the exemption certificates issued to the importers under section 148 of the Income Tax Ordinance, 2001. Sources further
Web18-Aug-2024: Circular No. 02 of 2024; Rate of Advance Tax Under Section 148 of the IT Ord., 2001 on Import of Raw Material by Manufacturers Covered under the Rescinded SRO 1125(I)/2011; 30-Sep-2024: Extension in date of filing Income Tax Returns/Statements for Tax Year 2024 – upto December 08, 2024 WebContents of this brochure are also available at our website www.fbr.gov.pk. DISCLAIMER: This brochure is to assist the taxpayers and reflects the legal position at the time of printing. In case of any conflict, the legal provisions of the law shall prevail over the contents of this brochure. ... Section 148 – Imports 2 . Section 149 ...
WebAug 7, 2024 · Minimum tax on imports under Section 148: Advance tax collected under section 148 at the time of import of goods has been made minimum tax in cases where such tax was final before the Finance Act, 2024. However, such tax shall not be minimum on imports mentioned in sub-section. motor vehicles in CBU condition by manufacturer of … WebThe rate of deduction withholding tax under clause (a) of sub-section (1) of section 153 has been reduced from 3.5% to 1%, in case of local purchases of scrap steel made by the steel melters who have opted for the Sales Tax Special Procedure Rules 2QD7 relating to steel melters, and are regularly filing returns under the said scheme.
WebJul 11, 2024 · FBR Launches Automation Process For Facilitation Of Import of Raw Materials For Industries Federal Board of Revenue (FBR) has devised an improved system of issuance of Exemption Certificates under Section 148 of the Income Tax Ordinance-2001 particularly for the import of raw material and intermediaries used by industries.
WebCIRCULAR NO. 05 OF 2002. (Income Tax) Subject: PROCEDURE REGARDING CLAIMING OF EXEMPTION UNDER SECTION 50 (4) ON SUPPLIES WHERE TAX UNDER SECTION 50 (5) HAS BEEN PAID. In view of hardship faced by importer-cum-supplier on payment of withholding tax @ 6% of value of goods imported and further … challenges with ccs in carbonate reservoirsWeb(a) for the sale of goods except where the sale is made by the importer of the goods and tax under section 148 in respect of such goods has been paid and the goods are sold in the same condition as they were when imported; (b) for … happy london covent gardenWebAug 2, 2024 · The FBR issued updated withholding tax rates applicable for imported goods under Section 148 of Income Tax ordinance, 2001. The withholding tax shall be … challenge swingWeb12 rows · Income Tax Ordinance. Home. Income Tax Ordinance. Sr.No. Title. 1. Income … happy london pressWebPlacement of Advocates on the Panel of FBR - Hyderabad: 148 Placement of Advocates on the Panel of FBR - Quetta: 149 ... Clarification regarding application of Serial 26 of Section 33 of STA 1990: 581 Extension in date of submission of Sales Tax and Federal Excise Return for the Tax Period of November, 2024 ... challenges with data warehouseWebStatutory Regulatory Orders (SROs) Income Tax / Sales Tax / Federal Excise / Customs challenges with byod policiesWebJul 11, 2024 · Federal Board of Revenue (FBR) has devised an improved system of issuance of Exemption Certificates under Section 148 of the Income Tax … challenges with apple watch